Chicago Purchasing Managers’ Index Increased to 50 in August
Posted by WARREN MOSLER on August 31st, 2009
Just enough to keep additional fiscal measures off the table while unemployment remains around 10%.
Chicago Purchasing Managers’ Index Increased to 50 in August
By Courtney Schlisserman
Aug. 31 (Bloomberg) — A measure of U.S. business activity rose more than forecast in August, adding to signs that the economy may be entering a recovery.
The Institute for Supply Management-Chicago Inc. said today its businessbarometer increased to 50, the highest level since September, from 43.4 in July. Readings below 50 signal a contraction.
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August 31st, 2009 at 10:46 am
Warren, can you comment on this article – http://www.chrismartenson.com/print/23583
Is this guy on target? I suspect he’s full of it but I’m not an economics expert.
I realize this is off topic for this thread but can’t find a way to email this to you. Thanks.
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August 31st, 2009 at 11:06 am
he’s confused, but not totally wrong, but unnecessarily alarmist
yes, tsy deficit spending adds to non govt savings of financial assets.
that’s what it’s supposed to do.
but what he tries to show as the ‘fed’s role’ is of no consequence.
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